What did you pay for a gallon of gas when you first starting driving?
Inflation - the greatly discounted and often overlooked element of financial planning is real. The cost of your current standard of living and the basket of goods and services you consume will cost more in the future. The further into the future you go the more expensive the same basket will become. People working longer curtail inflation risk to some degree, but those hoping to retire early have this cash flow risk magnified.
This weeks Notable Numbers outline some statistics around a retirees cost of living through the lens of inflation.
As always, we hope you find the WMR both informative and interesting.
Also, when did a postage stamp increase to 52 cents?
Have a nice week
Trevor N. Coe, CFP